Penske Automotive to buy UK's Rybrook Group

(Sharecast News) - US-based Penske Automotive said on Monday that it has agreed to buy Rybrook Group, which consists of 15 premium dealerships in the UK, for an undisclosed sum. The business includes four BMW dealerships, four Mini dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Additionally, three of the BMW locations also retail BMW Motorrad motorcycles.

Darren Edwards, chief executive CEO of the Company's Sytner Group subsidiary in the UK, said: "We are delighted to announce this transaction. The Rybrook dealerships represent exceptional brands with a strong commitment to providing exceptional customer service. We look forward to continuing this legacy and welcoming these franchises to our team."

Penske said the dealerships to be bought represent estimated annualised revenues of $1bn.

The acquisition is expected to close in January 2024.